Chairman Femi Otedola has further cemented his position as the majority shareholder of First HoldCo, acquiring an additional 138.04 million shares for N18.11 billion. The transaction, executed through Calvados Global Services Limited on August 6, 2026, increases Otedola’s stake in the financial services group to 26.1%. This move aligns with his publicly stated ambition to acquire a controlling interest of over 51% in the institution to drive its strategic transformation. Otedola’s total shareholding now stands at 11.90 billion units, valued at approximately N1.77 trillion.